Re:Twitter plans to comply with Musk’s demands for data
by XorNot on Friday June 10, 2022 @09:38PM
(#31701183)
I don't think we're disagreeing? Musk doesn't have the money cash in hand, so the default position is "he doesn't have financing". The most he can become personally liable for I believe is the $1 billion fee.
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Re:Twitter plans to comply with Musk’s demands for data
by tsimionescu on Saturday June 11, 2022 @02:53AM
(#31702540)
No, he is liable for the $44B offer he made and signed a contract for. Now, if say Tesla and SpaceX were to go bankrupt tomorrow and he would lose access to these funds, the $1B clause would activate.
Remember that he has already secured the funding, he has filed information about that with the SEC, and he has already signed the contract for paying Twitter's shareholders $44B in exchange for sole ownership of the company. Neither of the parties can pull out now: the deal is done. Only extraordinary circumstances can undo it anymore.